Tire Cord & Tire Fabrics Market Strategic Growth, Innovation and Investment Trends

Tire Cord and Tire Fabrics Market Size, Key Players and Competitive Landscape

The tire cord & tire fabrics market is anticipated to grow from USD 5.94 billion in 2025 to USD 10.41 billion by 2034, with a compound annual growth rate (CAGR) of 6.43% during the forecast period from 2025 to 2034.

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Introduction

The tire cord & tire fabrics market is an integral sector of the tire industry. This market deals in manufacturing and distribution of tire cord and tire fabrics for the tire manufacturing sector. There are various products developed in this sector consisting of nylon dipped cord, steel cord, rayon cord, polyester and some others. It finds application in several types of vehicles including passenger cars, LCV, HCV, Off-road vehicles and two wheelers. The growing production of tires in several countries has boosted the market growth. This market is expected to rise drastically with the growth of the automotive materials sector around the world.

• According to the ATMA India Organization, around 2051.31 lakhs tires were manufactured in India during 2021-22 that increased to 2173.52 lakhs in 2022-23.

Highlights of the Tire Cord & Tire Fabrics Market

• Asia Pacific held the largest share of the tire cord & tire fabrics market due to the rising demand for automotive in this region.
• Europe is expected to grow with a significant CAGR due to the rapid adoption of EVs in this region.
• The HCV segment held the highest share of the market due to the growing sales of trucks and buses around the world.
• The steel cord segment led the industry due to the increasing application of steel cords in the manufacturing of radial tires.

Key Metrics and Overview

Tire Cord & Tire Fabrics: Figures and Stats

• According to the USTMA, around 335.7 million tires were manufactured in the U.S. during 2024.
• According to the European Tyre and Rubber Manufacturers’ Association (ETRMA), around 166708 passenger vehicle tires were sold in Europe during 2024.
• According to the India Brand Equity Foundation, the tire demand in India increased by 6-8% during 2023-24.
• According to the Krishak Jagat Organization, the agricultural tires market size is predicted to reach US$ 12.5 billion by 2027.

Industry Leader Announcement

In January 2023, Suresh Sodani, the managing director of Century Enka announced that, " We decided to use our in-house waste for caprolactam and, with our technology from Akzo, some could be converted back to Caprolactam, the idea was to conserve crude oil, a finite natural resource, for making virgin caprolactam and avoid misuse of polyamide waste – which is highly detrimental to the environment. I am proud of our teams for this remarkable achievement.”

Geographical Insights

Asia Pacific held the largest share of the tire cord & tire fabrics market. The rising sales and production of vehicles in China, Japan, India and South Korea is a crucial factor that drives the market expansion. Also, the presence of numerous tire manufacturing companies such as Sumitomo Rubber Industries, Yokohama Rubber Company, MRF, Apollo Tyres, JK Tyre, CEAT and some others has increased the demand for tire cord & tire fabrics that in turn boosts the industrial growth. Moreover, the government of several countries are investing heavily in the automotive sector coupled with rapid adoption of EVs is driving the growth of the tire cord & tire fabrics market in this region.

Competitive Landscape

The tire cord & tire fabrics market is a highly competitive industry with the presence of several dominating players. Some of the crucial players in this industry consists of Arkema S.A, SGL Carbon SE, Solvay S.A., Kemrock Industries and Exports Limited, Kordsa Global, Inc, BASF SA, Kolon Industries Inc., and some others. These companies are constantly engaged in developing advanced materials for manufacturing tires and adopting numerous strategies to maintain their dominant position in this industry.

• According to the annual report of Arkema, the revenue of the company in 2023 was 9514 million euros in 2023 that increased to 9544 million euros in 2024.

Market Segmentations

By Product

• Nylon Dipped Cord
• Steel Cord
• Rayon Cord
• Polyester
• Others

By Vehicle Type

• Passenger Car
• LCV
• HCV
• Off-road Vehicles and Two Wheelers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa